Blog Post

Why the Renewable Energy Industry is Going Digital

Deepak Prabhu • November 8, 2019

Digital Transformation in the Renewable Energy Space

The renewable energy industry is witnessing an unprecedented amount of changes. Emerging policies, expanding investment interest, and advancing technologies are driving the growth of renewable energy across the globe. Interests in sustainable development and a global aim to drive policies to tackle climate change are pushing countries to speed up the adoption of renewables.

According to a report from IRENA, the global trend showcases a strong growth in renewable energy capacity which continued in 2018, with 171 GW added globally to the energy mix. 

Rising power consumption demands bring a great focus to optimizing assets and driving better metrics for operators. For most operators, downtime, operational inefficiency, and unreliable/inaccurate forecasting cost countless kilowatt-hours and impact revenue.

Asset downtime and under-performance have always been a challenge in the renewable industry. When a turbine experiences unexpected operational issues, farm operators need to dispatch engineers to diagnose and fix the issue. Anomalies often go undetected until they’re discovered in the course of scheduled maintenance. Farm operators inadvertently shave years off the lives of turbines and incur millions of dollars in losses because of the schedule-based maintenance process, which provides an incomplete assessment of asset health.

Absence of real-time information to perform preventative maintenance can lead to catastrophic failures that could easily be avoided. And a lack of data-driven forecasting leaves wind farms unable to adapt to changing weather patterns and grid demand.

As with any other industry, having a competitive edge depends on having a data-driven procedure to make informed business decisions and measuring risks. The same data-driven procedure implies managing renewable assets to operate new levels of productivity.

Data Analytics the way forward:

Industries are sitting on huge amounts of data that have the power to unlock way more value than is potentially being realized from existing assets and resources. Better planning with investment in the right technology can go a long way.

With advanced data analytics, farm operators can have a better understanding of the relationship between various signals and causes of failure. This identification of failures can now be done with good lead time, thereby improving operational efficiencies and reducing cost. Another aspect of improving operation and maintenance is to move from scheduled maintenance to predictive maintenance. This helps customers focus their attention on areas that need immediate help, with algorithms guiding the priority.

At Utopus Insights, our 'digital intelligence' leverages the power of advanced data science, machine learning, and artificial intelligence to unlock insights from vast amounts of IoT data including sensor, smart meter, and weather data, delivering software products that are descriptive (historic data and real-time visualization), predictive (energy and weather forecasting), and prescriptive (asset health for optimal maintenance and uptime).

Scipher™,our energy analytics platform and application suite, enables renewable energy asset owners, operators, and utilities to optimize their financial interests and increase reliance on typically intermittent renewable energy sources. Enhanced forecasting capabilities improve asset predictability, promote reliability, and augment maintenance operations to lower costs and extract additional revenue.

Scipher.Vx Intuitive, interactive and customizable energy asset, data visualization and performance monitoring.

Scipher.Fx Renewable energy forecasting powered by advanced energy-specialized weather forecasting.

Scipher.Rx State of the art prescriptive analytics that enables proactive asset maintenance.

To know more about how Scipher™ can empower you with your data, drop a note to growth@utopusinsights.com and let our renewable energy analytics experts transform your Re assets.


News and Events

By Deepak Prabhu May 8, 2024
Centralize data from various platforms into a single interface with Scipher.Vx+ real time data monitoring software.
By Deepak Prabhu May 8, 2024
As the global shift towards renewable energy continues, wind and solar power are emerging as crucial sources of electricity generation. However, unlike traditional energy sources like coal and natural gas, the effectiveness of wind and solar power is highly dependent on weather patterns. This makes accurate power forecasting digital solutions such as Scipher.Fx essential for wind and solar power producers. Maximizing Energy Production Wind and solar power producers heavily rely on precise power forecasts to maximize their energy production. By understanding the expected energy output from their renewable energy assets, producers can ensure that they meet the demand and avoid any disruptions in energy supply. Accurate power forecasting also helps in preventing over-generation, which leads to wasted energy and revenue. With Scipher.Fx, producers can optimize their energy generation and improve overall efficiency. Reduce Imbalance Costs Implementing power forecasting software such as Scipher.Fx can lead to significant cost savings for wind and solar power producers. By leveraging accurate forecasts, producers can effectively manage their energy generation, resulting in optimized operations, reduced maintenance costs, and improved labor efficiency. S cipher.Fx enables producers to avoid penalties associated with over-generation or under-generation, thereby preventing financial losses. Grid Integration Integrating wind and solar energy production with the power grid requires precise power forecasting. Accurate forecasts enable producers to plan their energy generation effectively and ensure a timely supply of the required amount of energy to the grid. This aspect is especially crucial in regions with high levels of renewable energy generation, as maintaining grid stability becomes a challenge. Regulatory Compliance Compliance with regulations pertaining to energy generation is a crucial responsibility for wind and solar power producers. Many regulatory bodies require accurate power forecasts from producers, which can be a daunting task without the appropriate software tools. Scipher.Fx provides wind and solar power producers with the means to comply with regulatory requirements effectively. By utilizing the power forecasting capabilities of Scipher.Fx, producers can ensure accurate forecasts, meet regulatory standards, and avoid penalties associated with non-compliance. As wind and solar power take center stage in the renewable energy landscape, power forecasting software like Scipher.Fx plays a vital role in optimizing energy production, achieving cost savings, enabling seamless grid integration, and ensuring regulatory compliance for wind and solar power producers. By harnessing the power of accurate forecasting, producers can unlock the full potential of renewable energy and contribute to a sustainable and greener future.
By Deepak Prabhu August 24, 2023
Sotiris Shiacallis, Operations Manager at Cyprus-based wind farm operator T.P. Aeolian Dynamics, shares about the company's experience using Scipher.Fx and Scipher.Vx+. Shiacallis describes how renewable power forecasting and asset management digital solutions by Utopus Insights have become pivotal in optimizing their wind farm operations, enhancing forecasting accuracy, and driving O&M with reliable insights.
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